L3Harris Technologies Inc $LHX Shares Purchased by NEOS Investment Management LLC

NEOS Investment Management LLC increased its holdings in L3Harris Technologies Inc (NYSE:LHX) by 46.1% in the third quarter, HoldingsChannel.com reports. The firm owned 24,397 shares of the company’s stock after buying an additional 7,699 shares during the quarter. NEOS Investment Management LLC’s holdings in L3Harris Technologies were worth $7,451,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of LHX. Brighton Jones LLC increased its position in shares of L3Harris Technologies by 233.9% in the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after buying an additional 3,001 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in L3Harris Technologies in the 2nd quarter valued at $230,000. Chicago Partners Investment Group LLC acquired a new stake in L3Harris Technologies in the 2nd quarter valued at $239,000. Balboa Wealth Partners purchased a new stake in L3Harris Technologies in the 2nd quarter worth $222,000. Finally, Stephens Inc. AR raised its position in L3Harris Technologies by 12.2% during the second quarter. Stephens Inc. AR now owns 7,116 shares of the company’s stock worth $1,785,000 after acquiring an additional 776 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Transactions at L3Harris Technologies

In related news, insider Samir Mehta sold 4,840 shares of the business’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $338.85, for a total value of $1,640,034.00. Following the completion of the transaction, the insider owned 5,916 shares of the company’s stock, valued at approximately $2,004,636.60. The trade was a 45.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX opened at $352.50 on Thursday. The company has a current ratio of 1.19, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The firm has a market cap of $65.84 billion, a PE ratio of 41.32, a price-to-earnings-growth ratio of 2.50 and a beta of 0.64. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $369.59. The company’s 50 day simple moving average is $325.67 and its 200-day simple moving average is $298.47.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.10. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same period last year, the company earned $3.47 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Friday, March 6th. L3Harris Technologies’s payout ratio is currently 56.27%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LHX. Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, February 6th. Royal Bank Of Canada lifted their price objective on L3Harris Technologies from $360.00 to $365.00 and gave the stock a “sector perform” rating in a report on Friday, January 30th. Weiss Ratings upgraded L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. Susquehanna reaffirmed a “positive” rating on shares of L3Harris Technologies in a research note on Thursday, January 15th. Finally, Morgan Stanley raised their target price on L3Harris Technologies from $367.00 to $390.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Fifteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $328.57.

L3Harris Technologies Company Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.